PROPERTY OWNERS
Hammerson sets record with best year of leasing
UK-based shopping centre owner Hammerson recorded its best level of lettings in its 75-year history in 2017 as it managed to extract higher rentals from its prime tenants. While many types of UK shopping centres, especially the smaller neighbourhood and convenience malls, are suffering due to subdued consumer spending, larger shopping centres are still profitable. “In recent years we have actively rebalanced the weighting of our portfolio towards high footfall destinations in major cities across the UK and Europe and this has underpinned our strong financial success at a time of ongoing structural change in retail,” said David Atkins, CEO of the real estate group which owns £7.75bn worth of retail centres on the continent. “We created very attractive store spaces, which enable retailers to showcase their best ranges. These store set-ups complement their online retail with click-and-collect services and so forth. This meant we could earn high rents compared with the market from premi...
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